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9/26/23
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Martens Development Company picked up a fully entitled 44-acre industrial development site in Mesa, AZ for $19.1 mil. The site, positioned at the southeast corner of Ellsworth Rd and Willis Rd.
Martens plans to build a new seven building 603k sf, Class A industrial project known as “The Brickyards” on the land. The land sale accounts for the first phase of the project; the second phase will consist of an additional 17 acres.
The Brickyards will feature seven freestanding Class A buildings that will range in size from 35.9k sf to 259.6k sf. Modern highlights of the state-of-the-art project include heavy power, dock-high and grade level loading, electric vehicle charging stations, innovative building design, ESFR K-25 fire sprinklers, and ample parking. The property also has six freeway access routes nearby and is less than 30 minutes to Phoenix Sky Harbor International Airport and just 5 miles away from Phoenix-Mesa Gateway Airport..
Cushman & Wakefield’s Kirk Kuller, Phil Haenel and Will Strong, along with CBRE’s Mark Krison and Luke Krison, represented the seller, Silver Creek Development, in the sale of the land. CBRE’s Pete Wentis and Kevin Cosca represented the buyer in the deal.
According to Cushman & Wakefield’s latest market stats, Phoenix Metro’s industrial market vacancy was a healthy 4.4% in Q2 2023 combined with a solid 7.msf of net absorption through the first half of 2023.
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